Erin Ventures’ Boron Property in Serbia, Exploration Update
Erin Ventures announced drilling is proceeding on schedule on its 100% owned Piskanja boron project in Serbia. The completion of this work program will continue to advance the fundamentals of the Piskanja project towards feasibility, as well as ensure that Erin is compliant with its obligations required to keep its exploration license in good standing and extend it into 2020.
Piskanja is Erin’s wholly-owned high-grade boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31 percent B2O3), and an inferred resource of 3.4 million tonnes (averaging 28.6 percent B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves as disclosed in Erin’s filed report titled, “Mineral Resource Estimate Update On The Piskanja Borate Project, Serbia, October 2016”.
To date, 5 vertical HQ-sized diamond drill holes have been completed with a 6th hole nearing the midway point of its targeted depth, for a combined total of 1,754.6 meters. The total planned work for this program is 10 drill holes, totaling approximately 3,050 metres with chemical analysis, and other ancillary works. The program is currently on pace to be completed by May 15th.
Visually, all five of the completed holes indicate the presence of massive borate mineralization in field tests, that confirm the continuity of several known mineral zones, and correlate well with results from previously drilled neighbouring holes (on a 100×100 m, or 50×50 m grid).
Hole 148 intersected 5 known mineral beds, and returned massive borates over an aggregate of 33.0m, including one bed of 13.3m and one of 9.5m.
Hole 149 intersected 4 known and 1 new mineral beds, and returned massive borates over an aggregate of 21.3m, including one bed of 13.3m.
Hole 150 intersected 5 known mineral beds, and returned massive borates over an aggregate of 28.8m, including one bed of 12.9m and one bed of 7.4m.
Hole 151 intersected 4 known mineral beds, and returned massive borates over an aggregate of 27.7m, including one bed of 12.8m and one of 6.4m.
Hole 152 intersected 5 known and 1 new mineral beds, and returned massive borates over an aggregate of 33.3m, including one bed of 9.8m and one bed of 8.9m.
Samples from all of these intersections will be sent out for chemical analysis shortly, with the results to be reported as received.
This work program is designed to ensure that the project continues to comply with both the Canadian Institute of Mining “Best Practice Guidelines”, and the Republic of Serbia Ministry of Mining and Energy mine development and licensing regulations.
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